Borrower's quote

To improve my family conditions, I decided to apply for a loan from SAMIC to purchase some chicken to raise, at the lower interest rate. With this loan I would like to make my activity more profitable so tha my family does not depend on a single source of income.

Economic and social context

Cambodia

Known as the Kingdom Of Wonder, and home to the remarkable Angkor Wat temples, Cambodia is still recovering from a turbulent recent history.

You should be aware that lending involves a risk of non-repayment. However, the risk associated with this MFI is considered lower than average.

Rates and transparency

This loan does not pay any interest to the lender.

The MFI will reimburse the lender in case of default of the entrepreneur but there is no guarantee or insurance given by the MFI.

100% of the money collected is sent to the MFI, even if the project is not fully funded on the site.

The MFI then makes a loan to the micro-entrepreneur and charges an interest rate in order to cover its operational and financial costs.

The platform earns a commission from the MFI for the service it provides, which helps to fund its running costs.

More effective than a simple donation, micro-credit promotes long-term sustainable economic development rather than short term help.

The MFI

SAMIC

SAMIC is a licensed MFI that serves over 16,500 clients in urban and rural areas through both group and individual loan products, as well as being one of the few MFIs to offer microinsurance. Started as the credit programme of health NGO, SAMIC became a separate organization in 2005. With a committed staff of 171, strong shareholders, and an experienced management team, SAMIC is aiming to expand its reach to new clients and further its vision of improving the living conditions of the poor in Cambodia.

What is Microfinance

The transfer and hosting of funds on MicroWorld are made via the payment service solution MANGOPAY, edited by the company Leetchi Corp SA, as approved issuer of electronic money authorized by the CSSF.

MicroWorld edited by ABC Microfinance is registered as Intermediary in Crowdfunding to ORIAS under the n°17005376.